China shares fall, shrugging off solid factory data, eased loan rules

martes 1 de julio de 2014 00:50 GYT

* CSI300 -0.19 pct, SSEC -0.16 pct

* PMI number, new lending rules don't lift stocks

* Hong Kong closed Tuesday for a public holiday

SHANGHAI, July 1 (Reuters) - China's major indexes slipped on Tuesday, as early gains for banks on new lending rules were erased and solid manufacturing data failed to help stocks.

Analysts said the positive reading on industrial activity in June had been expected and was already priced in by markets.

Similarly, railway shares ignored a report in the official China Securities Journal saying that China will spend 327 billion yuan ($52.73 billion) on railroads, without giving a timeframe.

The Hong Kong stock exchange was closed Tuesday for a public holiday and will reopen on Wednesday.

At midday, the CSI300 Index tracking the leading Shanghai and Shenzhen A-share listings was down 0.19 percent, and the Shanghai Composite Index down 0.16 percent to 2045.00 points.

Late on Monday, the China Banking Regulatory Commission announced relaxed rules for banks' loan-to-deposit ratios, a targeted stimulus measure expected by analysts to help lift growth in the world's second-largest economy.   Continuación...